St. Jude Medical plans $300M stock buyback

MichaelBaron

NEW YORK (CBS.MW) -- St. Jude Medical
STJ, -0.96%
said its board has authorized the buyback of up to $300 million of its outstanding common stock. The St. Paul, Minn. medical device maker plans to fund the repurchases with its existing commercial paper program. The stock closed Friday at $64.70, down 37 cents.

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